| **Press      Release
Source:      Petrol Oil and Gas Inc.** 

KansasGeologic Society Finds Good Gas Content in Coal Beds from Sampling Petrol Oiland Gas Wells

MondayMay 10, 12:48 pm ET

LASVEGAS--(BUSINESS WIRE)--May 10, 2004--Petrol Oil and Gas Inc. (OTC BB: POIG -News) announced today that they have received preliminary results from theKansas Geologic Society (KGS) indicating good to excellent gas content insamples taken from coal beds in Petrol's wells in Coffey County, Kan. KGS hasjoined Petrol in this scientific effort designed to assess the gas reserves fromPetrol's coal bed methane (CBM) wells in eastern Kansas. Petrol presently has inexcess of 130,000 acres of mineral leases in eastern Kansas and this report willbolster their plans to commercially develop these resources.

 

Dr.David Newell, geologist at the KGS located in Lawrence, Kan., said, "Wehave completed our preliminary laboratory analysis of coal and shale acquiredduring the drilling of Petrol's exploratory wells in Coffey County, Kan., andprovided those results to Petrol." Coffey County is located on the Bourbonarch which separates the Forest City basin on the north from the Cherokee basinto the south. Both basins are part of the even greater Western Interior CoalProvince which is the current target for most of the CBM drilling being carriedout by numerous operators, both large and small. Newell went on to say,"The KGS and graduate students from the University of Kansas (KU) workedclosely with Petrol's field operations manager and geologist to acquire wholecore and chip samples of various coals and shales from the Kansas City, Marmatonand Cherokee groups."

 

Petrol'scorporate strategy is focused on the exploration, development and production ofCBM gas and other producible minerals, with their present leasing anddevelopment efforts concentrated on the Western Interior basin in eastern Kansasand western Missouri.

 

PaulBranagan, president and CEO of Petrol, said, "We are very pleased with thegas content values derived by Kansas Geologic Society and University of Kansasfor the Riverton coal in our prospect area. For the first time we haveindependently corroborated our own field data regarding the gas content of thesecoal beds and thus we are better able to quantify our gas reserve estimates. TheRiverton coal complex will obviously be an essential element in attainingcommercial success for Petrol's CBM wells." Branagan continued, "Wemade available two of our exploratory wells specifically for this scientificdata gathering effort headed by the KGS. We feel privileged to work with andsupport KGS in gathering these samples that will ultimately be the underpinningsfor a statewide database establishing CBM gas reserves."

 

Analysisof core and chip samples such as those acquired from Petrol's wells provide theKGS with information regarding the thickness, rank and gas content from a numberof gas-bearing coals and shales that are contained within rock groups whoseproduced gas is commonly referred to as coal bed methane. The ensuing data willbecome part of a much lager KGS study encompassing all of eastern Kansas. Thisscientific effort should greatly enhance the KGS' ability to quantify the gasreserves of individual coals and shales, and highlight fairways and areaswarranting development of CBM gas reserves in eastern Kansas.

 

Petrol'stotal leased acreage in eastern Kansas is approximately 130,000 acres. Whencombined with Petrol's Missouri mineral leases, the company now hasapproximately 150,000 acres under lease.

 

Technical,corporate and investor-related information can be found on the Petrol Web siteat www.petroloilandgas.com.

SafeHarbor Statement: The statements in this press release regarding any implied orperceived benefits from acquiring core or chip samples, or the results derivedfrom those samples, laboratory analysis by KGS or others regarding but notlimited to gas content, the implications of gas content to reserves or futureproduction, the statements of Newell or Branagan, and any other effectsresulting from any of the above are forward-looking statements. Such statementsinvolve risks and uncertainties, including, but not limited to, discoveringproducible minerals such as oil or gas, the value of testing results, costs,delays, and any other difficulties related to producing minerals such as oil orgas, financing, marketing and sales, risks and effects of legal andadministrative proceedings and governmental regulation, future financial andoperational results, competition, general economic conditions, and the abilityto manage and continue growth. Should one or more of these risks oruncertainties materialize, or should underlying assumptions prove incorrect,actual outcomes may vary materially from those indicated. We undertake noobligation to revise or update such statements to reflect current events orcircumstances after the date hereof or to reflect the occurrence ofunanticipated events.

 

PetrolOil and Gas Inc. is quoted on the OTC Bulletin Board as "POIG."

 

Copyright(C) 2004 Petrol Oil and Gas Inc. All Rights Reserved.

 
*Contact:

PetrolOil and Gas Inc., Las Vegas

PaulBranagan, 702-454-7318 (Investor Information)

Source:Petrol Oil and Gas Inc.***** |
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